Fast Moving Consumer Goods (FMCG) are essential commodities that are characterized by their rapid consumption and frequent repurchase.

Elasticity of demand is a fundamental concept in economics that measures the responsiveness of the quantity demanded of a good or service to a change in its price.

The demand curve illustrates the relationship between price and quantity demanded, showing how consumers react to price changes. For most goods, the demand curve slopes downwards, indicating that as prices decrease, the quantity demanded increases—this is a reflection of the law of demand.